Income from Other Sources: Meaning, Inclusions, Deductions
Since he falls under the old tax regime, he first needs to calculate his taxable income After making the eligible deductions, his taxable income works out to
Tax on Winning Game Shows and Lotteries winning from lottery is taxable under which head of income
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Lottery winnings are taxable under the head “income from other sources ” The tax rate applicable to lottery winnings is 30% 10 Can losses be
winning lottery numbers fl provisions of Section 194B of the Income Tax Act, 1961 the person responsible for paying to any person any income by way of winnings from anyand sufficient
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